Caspian gets another large oil find on Lagansky block

08/11/2008
Lundin Petroleum AB, Stockholm, said its Morskaya-1 exploration well, which was drilled on Lagansky block in the northern Caspian Sea off Russia, has encountered a major oil accumulation in the Aptian and Neocomian sandstone reservoirs.The discovery well also found minor amounts of natural gas in the overlying Albian reservoir.Morskaya joins numerous other giant and supergiant discoveries of varying recoverable volumes in the northern Caspian, all of which have yet to be placed on production (see map).Calling the discovery a “major milestone” for the company, Lundin President and Chief Executive Officer Ashley Heppenstall said Morskaya-1 “will have a material impact&rdqu...
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